FLOWUSDT → Breakthrough of the wedge resistance

23 may 2023

FLOWUSDT forms the bottom in the area of 0.742. After numerous attempts to break the trend resistance, the price breaks it. A consolidation is forming, which could push the price up.



The level of 0.742 is a key support at the moment. The task of the bulls is to keep the price above this area.
For a long time we have been seeing a downtrend with numerous attempts to break resistance. For the last month, the price has been forming a decrease in volatility and moving into a consolidation phase.
The cryptocurrency pair was accumulating potential to break the resistance, which in the near future, if the local resistance areas are broken, may start the phase of realization of the accumulated energy.
The moving averages act as resistance.

Strong support: the previously broken wedge boundary, the level of 0.742.
Strong resistance: 0.800, MA-50, MA-200, 1.000
I expect the bulls will be able to hold the support level, the price will exit the local consolidation and continue to strengthen towards 1.000, 1.8000

Regards R.Linda!